What Do These Status Update Mean And How Easy Will It Be To Book An Appointment To View

What Do These Status Update Mean And How Easy Will It Be To Book An Appointment To View

If you are house hunting you will likely run into the following statuses or hear your agent tell you about them when they tell you whether or not viewing is possible, difficult or not going to happen. 

An "Active" and/or "New" Status

  • An "active" and/or "new" status for a home means that it is available for purchase, and that the seller is accepting offers. A "new" status is an 'active" status as well but it is "new" because it just hit the market. 

  • How easy should it be to view: Very easy 

A "Cancelled" Status

  • A "cancelled" status for a home means it is no longer on the market for sell with that current agent. The seller may chose to hire a different agent all together.

  • How easy should it be to view: Can be difficult (your buyer's agent will have to think outside the box to get you in, but the homeowner/tenants may not be willing to accommodate for several reasons. For instance, they may no longer want to sell).

A "Sold" Status

  • A "sold" status for a home means the home already went to the closing table and a buyer purchased the home. 

  • How easy should it be to view: Not going to happen. A buyer has already taken possession.

An "Under Contract" and/or "Pending" Status

  • An "under contract" and/or "pending" status for a home means a seller has accepted an offer and the buyer is waiting for financing (if seeking a mortgage). 

  • How easy should it be to view: Not likely to occur (if the deal falls through for whatever reason then a new buyer may have a chance...but keep in mind sometimes there are back up offers and buyers waiting and hoping for the deals to fall apart). Occasionally the listing agent will tell a buyer's agent that "it's continue to show", but that if a buyer likes the home the listing agent will say "it's for back-up only" or the listing agent and the seller are hoping for a better offer with a more motivated buyer. 

An "Expired" Status

  • An "expired" status for a home means that a homeowner's contract with a listing agent to sell their home has expired.  The seller may choose to re-list or not with the same agent or a different agent. 

  • How easy should it be to view: Can be difficult. Your buyer's agent will have to either reach the previous listing agent or current owner and tell them about you (the potential buyer). But there is no promise the owner/tenants will accommodate or want to sell anymore.

A "Reduced" and or "increased" Price Status

  • A "reduced" and/or "increased" status on a home means the seller has recently agreed to a price change. But the price change maybe significant or not. 

  • How easy should it be to view: Very Easy. With a price reduction a seller should be quite motivated.  

A "Withdrawn", "Temporarily Withdrawn", and/or "Temporarily Off-Market" Status

  • A "withdrawn" status for a home means it is probable that the home may be re-listed at some point. Buyers and their buyer's agent should keep an eye on the home for any sudden status changes. The current listing agent will likely remain the same agent too. 

  • How easy should it be to view: This can be difficult. The seller/tenant may not be in a possession to accommodate. There can be a countless number of reasons for this. Your buyer's agent will have to reach out to the listing agent.  

If you hear of any other status updates let me know and I will gladly provide my interpretation.

Valerie Martinez-Friedberg Headshot
Phone: 914-839-0459
Dated: October 18th 2016
Views: 2,522
About Valerie: ...

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